Service sector expands in April
The Institute of Supply Management reported today that the service sector unexpectedly expanded in April.
The index of non-manufacturing activity rose to 50.7 from 47.9 in March, the Institute reported. A downturn in services activity in March was the only pause in what has been broad growth in services for the past 15 months.
New orders, a key source of future growth, showed renewed expansion by rising to 50.6 from 47.7 the prior month, the Institute said.
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